HomeMy WebLinkAboutJames Court Permanent Easement Contract Kathryn G. Varner Trust11iv ut IVICHUiau
33 East Broadway Ave., Meridian, ID 83642
PERMANENT EASEMENT CONTRACT
Project Description: James Court Sidewalk Widening, Five Mile Pathway Connection
Parcel # and Owner: R1079960180 — Kathryn G. Varner Trust
Date of Offer: 27 November 2018
THIS RIGHT-OF-WAY CONTRACT, made this day of ��20f_, between the City of Meridian,
acting by its Mayor and Council, herein called "CITY" and Kathryn G. Varner Trust, herein called "GRANTOR".
WHEREAS, subject to the terms outlined below, GRANTOR agrees to deliver to the CITY a Permanent Public Easement,
to allow for widening of an existing pathway segment, included herewith as Exhibit "A"
NOW THEREFORE. the parties hereto agree as follows:
1. CITY shall pay GRANTOR such sums of money and/or benefits as are set out below:
ITEM DESCRIPTION AREA GROSS VALUE VALUATION EASEMENT VALUE.
(Ft) ($/Ft ) FACTOR ($)
Permanent Easement 513 $7.65 150% $5,886.68
In consideration of the GRANTOR'S agreement to utilize a valuation of $7.65 per square foot of the property is based
on current assessed value of $80,000 or $333,333.33 per acre.
2. TOTAL EASEMENT CASH SETTLEMENT AMOUNT $ 5,886.68
3. This Contract shall not be binding unless and until executed by the Mayor and/or their authorized representatives. The
parties have herein set out the whole of their agreement, the performance of which constitutes the entire consideration for
the granting of said easement and shall relieve the CITY of all further claims or obligations on that account or on account of
the location, grade, construction and maintenance of the proposed easement improvements.
4. The parties whose names appear below as Grantors, covenant and warrant that they are the OWNERS of the property to
which this document applies, are fully authorized to execute this document and forever bind themselves, their successors
and assigns and the subject property to the terms set forth herein.
IN WITNESS WHEREOF, the parties have executed this contract the day and year first above written.
Date: 4 ^23 - an 19
CITY OF MERIDIAN
am
ATTEST
Date approved by
In
IM
Page I of 3
Meridian City Council Meeting Agenda April 23, 2019 – Page 37 of 699
Meridian City Council Meeting Agenda April 23, 2019 – Page 38 of 699